Comments on: Video: Financial crisis in 10 minutes or less

By: Video Done Right

Video Done Right — Tue, 30 Sep 2008 16:55:39 +0000

[...] from The Drudge Report and numerous blogs, including high-profile sites like Instapundit and Hot Air. It had been viewed more than a million times before being yanked over a copyright-infringement [...]

By: DeMint Helps Video Go Viral : Wesley Donehue

DeMint Helps Video Go Viral : Wesley Donehue — Tue, 30 Sep 2008 11:42:09 +0000

[...] posted by TheMouthPeace. It quickly found its way onto right-leaning blogs, including the popular Hot Air and Power Line. Even the Drudge Report linked to it [...]

By: Burning Down the House: The Financial Fiasco in Under Ten Minutes « Utah Rattler

Mon, 29 Sep 2008 18:35:34 +0000

[...] The video is quite well done but Ed Morrisey provides some well noted caveats. [...]

By: Video: How We Got Here - The Mortgage Crisis « Truth and Reason

Video: How We Got Here - The Mortgage Crisis « Truth and Reason — Mon, 29 Sep 2008 15:00:17 +0000

[...] Hot Air, Michelle [...]

By: Tom Saari

Tom Saari — Sun, 28 Sep 2008 19:02:06 +0000

[...] fiddling with the markets and work hard don’t look for government handouts. More useful comments here. Comments [...]

By: K Street Cafe » Blog Archive » A Viral Video on the Financial Bailout: What Caused Our Economic Crisis?

Sat, 27 Sep 2008 15:58:21 +0000

[...] posted by TheMouthPeace. It quickly found its way onto right-leaning blogs, including the popular Hot Air and Power Line. Even the Drudge Report linked to it [...]

By: Video- America’s financial mess explained « The Daley Gator

Video- America’s financial mess explained « The Daley Gator — Sat, 27 Sep 2008 15:53:28 +0000

[...] America’s financial mess explained Found this over at Hot Air and as is pointed out there, the video tends to place all the blame on Democrats. And, in truth, [...]

By: Mark My Words

Mark My Words — Fri, 26 Sep 2008 23:39:32 +0000

The financial crisis goes viral…

If you would like to help that is. ……

By: Dr Evil

Dr Evil — Fri, 26 Sep 2008 23:10:21 +0000

Hold On Ed, They were held the position to do something about it they were elected to do something about it. You really think John Q Public could have stopped this? Really while we can’t even secure our borders and ports and that is while we are all jumping up and down, Democrats, Republicans and Independents. I didn’t see any huge equity build up in my House. I am in Texas, in a so called recession proof area. Lord Hear My Prayer.

By: The History Of Our Current Financial Troubles « Tai-Chi Policy

The History Of Our Current Financial Troubles « Tai-Chi Policy — Fri, 26 Sep 2008 23:07:15 +0000

[...] The History Of Our Current Financial Troubles September 26, 2008 Posted by taoist in Capitalism and Economics, Democrats, History, Politics. trackback Not entirely the Democrats fault. But mostly. They set up the situation that caused Fannie and Freddie, and all the others, to fail. [...]

By: ninjapirate

ninjapirate — Fri, 26 Sep 2008 21:49:34 +0000

Go here if you want to help get this video viral…

http://burninghouse.wikispaces.com/

By: TMK

TMK — Fri, 26 Sep 2008 20:11:18 +0000

Republicans controlled both chambers of Congress.

Those Republicans have already been punished, remember? They’re not “off the hook,” they’re out of a job. Now it’s time to send the bankers and their pet Democrats to prison and make usury illegal in the U.S.

As our own government has demonstrated, endlessly borrowing rather than spending within ones means is a ruinous policy. Send usurers scurrying back into the shadows with racketeers, abortionists, and other such scum.

By: unmeritedfavor

unmeritedfavor — Fri, 26 Sep 2008 19:10:21 +0000

I am a Tennessean and I called Bob Corker’s offices on Wednesday (ALL OF THEM) and talked to someone in every single office. (Nashville, Memphis, Jackson, Chattanooga, DC, etc) and voiced my concern over this deal. I also expressed my utter frustration with the system and let it be known LOUD AND CLEAR that I am SICK of the frickin’ partisanship and SICK of our elected leaders voting based on THEIR BEST INTEREST and not in the interest of their constituents.

He was a better option that Harold Ford, Jr (so I thought) but I held my nose to vote for him.

This whole thing ticks me off!

By: Plumb Bob Blog » The CRA and the Housing Bubble

Plumb Bob Blog » The CRA and the Housing Bubble — Fri, 26 Sep 2008 18:29:41 +0000

[...] Ed Morrissey provides some other worthwhile comments, noting in particular that while certain Republicans did attempt to draw attention to the problem during the last decade, the Republican Congress failed to pass these measures — and the Democrats could not have stopped them if support had been unified. Some Republicans are to blame in this mess as well. Morrissey adds that we had plenty of warning that things were out of control, but didn’t really take note because we were all so thrilled at how much our houses were worth. All of us share some of the blame. But the root cause was the CRA. [...]

By: Video: Financial crisis in 10 minutes or less : P.U.M.A

Video: Financial crisis in 10 minutes or less : P.U.M.A — Fri, 26 Sep 2008 18:26:11 +0000

[...] Ed Morrissey has a few salient points to add: A few clarifications should be made. This video lays all of the blame on Democrats, which is a natural reaction in an election year, but that lets a lot of Republicans off the hook. In 2003, the Bush administration tried to stop the runaway train of Fannie Mae and Freddie Mac, and Republicans controlled both chambers of Congress. Democrats alone didn’t stop this. No one filibustered the Bush administration’s bill in the Senate; it didn’t have the votes to pass anyway. Likewise in 2006, when Chuck Hagel, John McCain, John Sununu, and Elizabeth Dole attempted to fix Fannie and Freddie, Republicans controlled Congress and did nothing to pass this bill. Democrats blocked it, but without some help from Republicans, both efforts would have passed easily. [...]

By: Montana

Montana — Fri, 26 Sep 2008 18:10:06 +0000

I’ve worked in banking–setting up the loan processing systems. When someone explained a set of products to me, I said, “Really? You actually sell those? Do they ever go bad?”

The person looked down her nose at me as if I was too dumb to grasp the sheer brilliance of the products she was describing.

Apparently the market was too dumb too.

And the products she was describing?

ARMS
No Interest
No Income Verification

You get the picture…

I understood the products alright–I understood them to be stupid. What I didn’t understand was WHY a bank would sell them. Learning about the CRA helps me understand why.

By: Buy Danish

Buy Danish — Fri, 26 Sep 2008 18:00:00 +0000

Republicans were not interested in wasting time pursuing kamikaze legislation and then getting tagged by Democrats as being “against affordable housing.”
rockmom on September 26, 2008 at 10:35 AM

Thanks for pointing this out. It is politically unfeasible to oppose “affordable housing” as doing so invariably leaves one open to charges of “racism”. Very few people, politicians (or businesses) are willing to risk having their reputations smeared in this manner.

So yeah, I agree that this subprime fiasco is the Democrat’s fault because race-baiting is what they do.

By: ErikTheRed

ErikTheRed — Fri, 26 Sep 2008 17:45:39 +0000

I just e-mailed the author of the video and asked him for a cut without the “McCain/Palin” campaign ad part at the end… make it look a little less partisan for sharing with the unwashed liberals. He wrote back and told me to stay tuned….

By: skewred.com » Subprime Primer

skewred.com » Subprime Primer — Fri, 26 Sep 2008 17:11:47 +0000

[...] Air has a great analysis and some additional information on this video. We can’t just blame the [...]

By: Serr8d

Serr8d — Fri, 26 Sep 2008 15:44:07 +0000

Oh, and before someone calls RACISM!!, the source image for that graphic..

By: Serr8d

Serr8d — Fri, 26 Sep 2008 15:40:14 +0000

CRA, yeah. Here's a graphic I created for a post I wrote Sunday. Apropos. Use it if you like.

By: paulsur

paulsur — Fri, 26 Sep 2008 15:37:57 +0000

Has everyone posting here contacted their representatives to demand the dissolution of Fannie mae and Freddie Mac, and to require that any new legislation insure the gov’t stays completely out of the morgage and housing industries?

Please do. By close of business Friday, everyone should take the time to call your reps and let them know exactly what we expect.

They are listening now, it is an election year, put it to them.

By: Count to 10

Count to 10 — Fri, 26 Sep 2008 15:36:53 +0000

Look, the main issue here is to push back against the stupid knee jerk reaction that this is a failure of capitalism or a Republican lack of regulation, but a case of over regulation.
If we can’t even do that, we are going to get a “hair of the dog that bit you” solution that makes things even worse.

The fact of the matter is that the world’s capital has been flowing to the US for decades because we offer good return on investments (a trade deficit is equivalent to a foreign investment surplus). If those investors take their money elsewhere, we will see an economic slowdown. It is clear that we have “squandered” much of past investment on luxury houses (which aren’t productive).
We’ll see how things play out. But we should learn from this (again) that wealth redistribution hurts us all.

By: CBarker

CBarker — Fri, 26 Sep 2008 15:36:10 +0000

Angry Dumbo on September 26, 2008 at 10:38 AM

Yea, that reminds me it was the 3 minute attention span of the people that contributed to this too…

By: PattyJ

PattyJ — Fri, 26 Sep 2008 15:35:08 +0000

Why didn’t this generate more concern?

It did, Ed. Everyone I know over the age of 40, or a realtor, saw this coming. We kept saying, don’t borrow more than you can afford now, don’t get a balloon payment loan–because when this thing blows, it ain’t gonna be pretty.